The median list price in RANCHO SANTA FE, CA 92067 this week is $3,695,000.
The Market Action Index has been trending down recently, but as days-on-market decreases also, there are not strong signals for the direction of the market.
Supply and Demand
In terms of supply and demand, the market is getting cooler – more supply is coming on the market relative to the sales demand. However, in recent weeks prices have been moving higher. Since it is technically a Buyer’s market, this price trend may be a result of improved quality (newer, larger homes) of the homes being listed. Look at the descriptive statistics where you may notice the homes being listed are larger and younger than they have been in the past.
The Market Action Index answers the question “How’s the Market?” by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller’s
Market conditions. Below 30, conditions favor the buyer.
The market for this zip code continues its bounce again this week. We’re a long way from the market’s high point so watch the Market Action Index to predict how long this trend will last.
CLICK HERE to download the full market report for RANCHO SANTA FE, CA, 92067.
For more information about luxury single family homes, contact Lucy Kelts.